🖼 Daily Technical Picture 📈
➤ Equity prices were all over the place on Tuesday trade. Nasdaq, S&P500 down yet European Indices and Russell 2000 were up.
➤ This is the sort of action you should expect during a consolidation phase. I'm not sure if this will end with prices moving higher or a break of trend and moving lower. We should know shortly, this consolidation phase will not last very long.
➤ My signals are leaning towards the Bearish scenario. However, these are lower conviction trades that can be switched quickly. I think the test of the support level at 390/3900 SPY/SPX will provide some insights (if prices get there).
➤ I remain with -51% short exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I'll be on holidays starting today but its business as usual for my Trading. I will return 8th Dec. I'll take a break from my writings but keep you updated as necessary.
➤ Equity prices were all over the place on Tuesday trade. Nasdaq, S&P500 down yet European Indices and Russell 2000 were up.
➤ This is the sort of action you should expect during a consolidation phase. I'm not sure if this will end with prices moving higher or a break of trend and moving lower. We should know shortly, this consolidation phase will not last very long.
➤ My signals are leaning towards the Bearish scenario. However, these are lower conviction trades that can be switched quickly. I think the test of the support level at 390/3900 SPY/SPX will provide some insights (if prices get there).
➤ I remain with -51% short exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I'll be on holidays starting today but its business as usual for my Trading. I will return 8th Dec. I'll take a break from my writings but keep you updated as necessary.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.